The seed treatment market has been forecast to increase at a compound annual growth rate (CAGR) of 8.3% over the next five years, increasing from a total of $3.2 billion in 2013 to reach a market value of $4.8 billion by 2018.
The global demand of seed treatment has been primarily driven by the growth of the commercial seeds (conventional and bio-seeds) market. Increasing global farming and reduction in arable land has generated the need for high yield productivity, further boosting the market for seed treatment.
However, environmental concerns regarding the toxicity of chemicals used in insecticides, fungicides and other chemical treatments are expected to inhibit the market growth.
Though the market is driven primarily by insecticides, the increasing awareness of seed treatment fungicides and biocontrol nematicides is expected to contribute to further growth.
Maize/corn, soybean, and cereals are the major crops behind the current market growth; however, there is a rising trend for the use of seed treatments on vegetable, rice, sugar beet, cotton, and oilseed crops.
According to a recent market report, 'Seed Treatment: Technologies and Global Markets,' North America and South America represent the leading regions within the seed treatment market with a high presence of genetically modified crops.
However, South America is the market with most growth potential, owing to an increase in seed treatment for major crops such as maize and soybean.
The global market for seed treatment is highly concentrated with the top four companies accounting for more than 80% of the total market.
Syngenta and Bayer CropScience together account for more than 60% of the total market. Some of the other companies operating in the seed treatment market include Monsanto, BASF Agriculture Solutions, DuPont, Chemtura, Nufarm.
For more information on the seed treatment market, see the latest research: Seed Treatment Market Research
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